Author
Topic: Bitcoins (Read 2831 times)

Well, I was considering using bitcoin casinos, but I just noticed how the price of bitcoins has skyrocketed the passed month. I am concerned that if I buy them now, they will drop in price and lose half my investment. Should I wait until they drop? I am new to bitcoins and was not aware of this volatility.

Yes bitcoin price can be volatile. You can hold bitcoin on the website http://www.uphold.com and convert it to USD if you are concerned about price fluctuation. There is a fee to do this which is 0.75% (almost 1%).

EDIT: you can also convert to a crypto-currency equivalent to USD which is called Tether (USDT) right here...

They have both a web wallet and a smart phone wallet app. If Im not mistaken there are no fees at all to convert from BTC to USDT and back again. It just takes time to process which could be 15 minutes or a couple hours depending on how volatile bitcoin price is.

But my main concern is this. Let's say I purchase $150 worth of bitcoins and place those bitcoins on a bitcoin gambling site.

I double my bankroll in a month. I withdraw $150 and keep the original $150 in the gambling site.

I want to convert that $150 in bitcoins (or use it to purchase something in bitcoins), but the price of bitcoins has dropped 66% since I did the exchange. Now my $150 in bitcoins (which was its worth a month ago) is only worth $50.

I don't know much about bitcoins, but if this is a possibility, I think I'll have to stick with USD for now. I like the security of bitcoins for gambling purposes, but if my winning could diminish in a short period because the price of bitcoins has fluctuated, I don't want to risk that at this point.

If Trump gets impeached, the market takes a dive and the dollar most probably will be mimicking that swan dive. So sure. In such a financial H-bomb scenario, the precious metals Au, AG and Pt would go up like a bat out of hell, and Bitcoin most probably with them.

With the current grim market realities and a Negative Interest Rate Policy (NIRP), investors, like mega pension funds, are very nervous. If Trump goes the market will correct itself, probably 5-10% downwards before the first brakes shuts it all down for a couple of hours. According to Yellen´s latest squawk from her Dark Castle at 33 Liberty street NYC, the FED will not interfere

So to conclude; Watch the ongoing Deep State versus the WH and of course the ongoing US Congress hearings where Ex FBI Director Comey and & Co swear on an impressive stack of bibles, that they haven´t seen anything, nor heard or said anything (of value) and you ll know in what direction the wind blows.

Terminator! Bitcoin price has hit $2200. Its now up 30% since you commented last week. Without having any financial knowledge at all, you could protect your capital by using a simple EMA (exponential moving average) technical indicator as seen by the two colored lines in the attached chart (I would use 1 day charts). You hold bitcoin when the yellow line is above the blue line, and you switch to USD and hold USD when the yellow line falls below the blue line. I used https://cryptowat.ch/bitfinex/btcusd/1d to create the chart. With websites like TradingView.com you can set an alarm when these two lines cross each other.

Provide a link to the site. IMO any site claiming 6% a day is a scam. Just a quick search finds links like the one below giving it a 1/10 rating, marking it as a scam. I would stay clear of any site claiming they can make you money with bitcoin. Most of them are "exit" scams. They take your money, and then you will never see it again.

I play at Betchain which is one of the biggest ones.I'm very happy. They offer many and FAST deposit and withdrawal options and they also accept euros (and maybe other currencies) which a big plus if you don't have a bitcoin account already. So you can deposit euro and then play with bitcoins.

Their games are provably fair and you can test the fairness of each and every spin with a little app they have integrated in their interface.

They also offer live dealer games which is a great addition and quite rare for a bitcoin casino. You can only play live games with euros or usd, but their account system allows you to easily change your balance from euro to bitcoin to usd etc.

Guys, the thing with bitcoin is that's number 1 active today to preserve and multiply the value of money. When markets go down , it goes up. It's a very high volatility investment, will work better on long hold. These who buy this active in 2010 for 0.07 usd became a millioners, probably some of its holders became billioners or will become in nearest future. This thing has a potential to suck in all world's money, if this really will happen, 1 satoshi will be what is bitcoin now. ( satoshi is 1/10000000 bitcoin).